14 years ago – Page 34 – Slope of Hope with Tim Knight

Slope of Hope Blog Posts

Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.

Mixed Morning

By Tim Knight - 14 years ago (08, Sep 2011 6:18:51 AM)

Thanks to a late night last night, I had a late start this morning. When I fired up my screen, I was pleased to see the Euro and equity markets down (I'm doing this post before I've even had a chance to see what's going on news-wise, but Slopers come first).

On the one hand, this steaming poo was waiting for me in my email's in-box:

And on the other, the Euro was seriously breaking down technically:

I think the good news of the Euro's breakdown trumped any bad feelings I might have had from a piece of hate mail. You should remember this is the kind of thing you have to deal with from time to time if you ever decide to dare offer an opinion in public!

The funny thing is that Mr. Sunshine apparently subscribes to my daily email feed. Speaking for myself, I don't subscribe to emails even from people that I like, let alone people with whom I disagree. I guess time weighs more heavily on some people's hands than others.

I've got to get ready for the trading day, so I'll see ya in an hour or two.

The Uh-Oh Levels

By Tim Knight - 14 years ago (07, Sep 2011 5:36:57 PM)

If you want to get a sense of how confused, volatile, and unpredictable the market is, just take one look at a daily chart of ETF symbol EDZ. We can rename this market Gap City. Incredible.

I seriously can't remember a time that a candlestick chart has looked anything like that. Bulls and bears alike are getting lurched all over the place.

The higher we climb, the more comfortable I get leaning bearish. Below I simply offer some major indexes with their "uh-oh" levels cited. By "uh-oh", I don't mean that crossing them negates the prospect of lower prices, but my expectation is that the market will stay beneath these levels until such time as we can tag that 1050 target on the S&P I've mentioned a few thousand times.

A Sloper’s Analog

By Tim Knight - 14 years ago (07, Sep 2011 1:00:49 PM)

A Sloper by the avatar name of phantomcapital sent me his view of the market's future. I really, really like this analog he put together, and he kindly gave me permission to share it with all of you. It lines up nicely with my own thinking.

As we all know, it's dangerous to get married to analogs, but if you follow the mantra that "it works until it stops working", you'll be better off. Thank you, phantomcapital, for your hard work on this and allowing me to let the group see your chart.